Announcing the Release of “Live Your Life Insurance” en Español – Episode 300

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[00:03] Welcome to the Prosperity Podcast. Welcome to another episode of the Prosperity Podcast. And in this episode, you might hear a little bit of Espanol. Now, why is that, Kim? Oh, gosh, if there’s going to be any Espanol spoken, that will be from you. And we have such a cool announcement to share in that our original little tiny book known as Live Your Life Insurance has been translated into Spanish. And I’m so excited for this because it will enable an entire group of people that would prefer to read in Spanish or maybe can only read in Spanish to have access to the information. You know, that’s actually a leap forward because a lot of the economies in the Latin world deal heavily with cash. And so now they get to understand and see in a completely new world to them.

[01:07] Absolutely. Well, it’s been fun. I just dug around on the web and looked for a translator and found a gal that was, I’m sure, perfectly capable. But what was even better is that she was interested in the book and she loved the content and was curious about it. And so I think that just, you know, anytime you do work with love, the resulting product or service is going to be better. And so, of course, I can’t read it. But I’ve had a couple Spanish speaking friends read it. And so here’s a question for you. Can you read in Spanish? I know you speak it. Yes, I can. Why haven’t I gotten you the translation yet? Well, I will be reading it and I’ll give comments and maybe we’ll even find a way to get it recorded in Spanish.

[01:57] Absolutely. So one of the things that I wanted to make sure of once I got headed down this road, which actually all happened very, very quickly, is to make sure that we had some advisors that did speak Spanish in case we had people that read the book and then were interested in the work that we do, particularly with the life insurance, but of course, just with all things financial. And so I am aware of a couple of guys out of Patrick Donahoe’s office in Utah. At Paradigm Life. So Will Street and Nate Butler both speak Spanish and have helped Spanish speaking clients before. And I did reach out to one of them to possibly read it, but I haven’t heard back. It would be so much better if you did it.

[02:40] That’s the perfect solution. Yes, I will do it, audience. And then I’ll let you know inside of the show notes because I can read that quickly. I’ve been speaking Spanish for decades and decades. Oh, I am so delighted. I can’t believe that didn’t cross my mind. Well, and another thing for us to think about as people that are involved in the prosperity movement, there are communities throughout the world that oftentimes they don’t take the small steps like us. You know, if we think about over in Africa and we think of the cellular technologies, well, we went through generations of laying copper pipes and laying ethernet and fiber. And they said, no, we don’t want to do that. We’re just going to put 5G towers up and make a giant leap.

[03:30] And that’s what’s going to happen with this book for the Latin economies. Well, it is interesting. I don’t know a lot about how that product, whole life insurance is implemented throughout various countries. But I am aware that in some countries it’s a very normal natural step. So, for example, in India, when you graduate from even high school, definitely college, but somebody was telling me even high school, there are these massive buildings that sell insurance. And you go into these buildings and you buy car, home, and life insurance right away. It’s just a normal natural step. And they do have an equivalent of a whole life product and they have term insurance. And people use both, which is exactly how it should be used.

[04:20] And it is amazing that that’s a normal natural step. And in the United States, it used to be the same way. If you go back into the 1800s and even the first about 35 to 40 years of the 1900s, people bought life insurance. It was a very, very respected product. And the people that sold it were very respected. And people as consumers really, really cared about their policies. They saved carefully. And the people, the selling agents would come to people’s homes and they were called debit agents. And they would collect literally dimes and quarters every week to pay life insurance. And people cared about their policies so much to be able to do that. And then somehow in the 40s and the 50s, this whole New York, Wall Street,

[05:18] the environment with the mutual funds just overtook the whole life product as a place to save. And I don’t mean to bring in the New York Wall Street thing as an investment because clearly the life insurance is not an investment. And yet it shifted people’s perspective of it. And it shifted what they did with their money. And it just over time eroded its own importance, I guess, in families’ lives. And so it will be interesting to see with the Spanish-speaking community because many of them do not have involvement with, quote, Wall Street. Many of them do not have involvement with banks. There is a massive amount even in America of what are known as unbanked and underbanked people. And these are people that, for whatever reason,

[06:11] do not use the traditional banking system. They even don’t have checking accounts. They use all kinds of money orders and cash and other services to get money moved from place to place to pay bills and that kind of thing. And so it will be interesting to see if that community makes the same jump with their money that the third world countries have made with their technology. And then, of course, it will be very interesting to see if the third world countries add the financial product of life insurance and particularly whole life insurance to their repertoire. You know, that’s going to be exciting to see because I truly think it can make that leap. And they use the term mattress money. That’s one of the common phrases.

[07:00] Now, there’s one thing. I’ve lived in Latin America for several years. They’re a hardworking group of people. They are disciplined to actually save their money. And they’re disciplined enough to put off the things that they want today for the things that they want in the future. And that principle alone is a big differentiator between what happens for many people in America versus to them. Absolutely. And that’s something that America could really learn from. We’ve become such a want it now society. And I think it’s that that causes our disconnect with whole life insurance sometimes because whole life insurance is not a get it now product. It is slow and boring and yet so effective. And so because they have a better ability to save and to defer,

[07:56] that is really going to help them. And that will put them on more solid financial footing. And I think, too, that community, tell me if this is accurate, is not desirous of debt as a general rule. They typically don’t go out. I mean, part of debt is getting something that now that you can’t pay for entirely. Now, homes aside, that community doesn’t typically have a lot of debt, do they? That’s true. They don’t. And maybe it’s because they can’t. But maybe that’s a good thing. Yeah. And I think it’s also cultural. Like they want to save as much as they can. The way that it used to be and is in many cases is that it’s save, save and save so that I can then have that money to buy a house and then save so I can have that money to buy a business or whatever it may be.

[08:49] Granted, I think that the Latin people that have come to America and some of them have adopted the sad habits, I should say, of people that are going into debt, but the people that have values that have those hardworking ethic, you know, they’re exactly what you’re saying. I love it. Well, I’m really looking forward to this book being able to do some good, obviously in the United States, but also in other parts of the world. And Macarena Corte is the translator and she is just a delight to work with over email. I’ve not ever even spoken with her and she’s excited about translating some of the other books. I think she’s already working on Busting the Retirement Lies. And so you can look forward to these being out in the marketplace and usable.

[09:42] And they’ll be, as you said, with an audio version as well. Yes. So for listeners, we really want to welcome you to check out this. If you happen to be speaking Spanish, if not, share it with friends, family, whomever that may be. And if you’re listening to this episode and you say, well, I don’t speak Spanish and I don’t know anyone that does, one principle you can take from this is what can I do to make a leap in my thinking or in my habits? And that’s what this book is doing. And so there is applicable principles that you can make in your life. I love that you’ve brought that up because there are oftentimes when we hear something and just think, oh, it doesn’t apply. But that leap in thinking.

[10:28] And as we know, the seven principles of prosperity, the first one is to think. And oftentimes it’s just turning your brain on and becoming aware of something that you didn’t know existed and then making the leap to apply that to something else, sometimes completely unrelated. Yeah, that’s true. Well, this was a fun episode. It was a little bit different, but we got to have some great conversation. I appreciate the time that you had with our listeners and for letting the world know about this new, amazing book. So thank you, Kim. Thank you, Spencer. Thank you for listening to the Prosperity Podcast. To take control of your money and have it work for you, visit us at partnersforprosperity.com.

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